India, Feb. 14 -- The early investors of MSME-focused NBFC Aye Finance have booked notable gains on their investments by offloading part of their holdings in the company. The shares of the NBFC, whose IPO closed with 97% subscription, are set to list on the bourses on Monday (February 16).

Danish asset management and investment firm MAJ Invest emerged as the biggest gainer from the public listing by offloading most of its holdings in the NBFC. At the issue price of Rs.129 per share, the upper end of the price band, the firm raked in Rs.139.7 Cr by selling 1.08 Cr shares. This translated to a 1.7X return on its initial investment. Post the sale, the investment firm owns 6.21 Lakh shares of Aye Finance worth Rs.8 Cr.

The biggest return on...